Asia Pacific is one of the prominent regions globally in the seafood market for both export as well as import. It is projected that by 2030, the Asia Pacific region will account for approximately 70% of the global demand for fish and seafood products. Hence, to meet this increasing demand of seafood, production of seafood globally is expected to grow rapidly in the coming years.
China is the world's largest producer, consumer, importer, and exporter of seafood products and accounts for approximately 35% of all global production. Seafood imports into the major cities of China has been consistently rising. In the period, January-April 2016, Shanghai, imported approximately 34,000 tons of seafood, a growth of 34.7% year-on-year. The main export market for China's seafood product is Japan which holds approximately 20% share, followed by the US and Hong Kong. In Europe - Germany, Spain, Netherlands, and the United Kingdom. are the major markets for Chinese seafood products.
Over the last decade, economic growth in China has profoundly impacted the global economy. Rising income level, rapid industrialization, and increasing adoption of advanced technology has changed the lifestyle of people in China. Thus, it has positively impacted their food consumption including consumption of seafood products. Demand for luxury seafood products has increased significantly in China over the past few years. In 2015, China accounted for approximately 20% of the luxury seafood consumption globally. Also, in 2012, China government spent approximately USD 60 billion on banquets which includes exotic seafood products such as shark fin soup, swim bladder, sea cucumber, and geoduck.
Key Topics Covered:
1. Analyst Opinion
2. Global Seafood Market
3. China Seafood Market
4. List of Charts & Graphs
5. Research Methodology
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